The Asian Development Bank (ADB) has approved a $250 million policy-based loan to support the Centre’s reforms aimed at strengthening and modernising logistics infrastructure, improving efficiency, and lower the cost in the logistics sector.
This will rationalise India’s high cost of logistics and reduce greenhouse gas emission, the statement added.
The programme will help to strengthen supply chains by simplifying external trade logistics and domestic cargo movements, modernizing warehouses, improving business processes with integrated digital platforms, and stimulating private investments in the sector.
India’s recently approved National Logistics Policy and the Prime Minister Gati Shakti–National Master Plan provide transformative institutional and regulatory frameworks for holistic development of the logistics ecosystem in the country and lays the foundation for building a modern and efficient logistics sector.
To facilitate multimodal logistics, the sub-programme promotes reforms that reduce cumbersome processes that businesses face to obtain approvals for cargo clearance as well as the creation of digital systems that integrate regulations, processes, and logistics data. The programme promotes the facilitation of cargo movement through coastal shipping and inland waterways to strengthen multimodal transport.